WCM Investment Management LLC Has $857,000 Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

WCM Investment Management LLC lifted its position in Paylocity Holding Co. (NASDAQ:PCTY) by 32.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,313 shares of the software maker’s stock after buying an additional 1,306 shares during the period. WCM Investment Management LLC’s holdings in Paylocity were worth $857,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Venturi Wealth Management LLC raised its position in shares of Paylocity by 45.1% during the third quarter. Venturi Wealth Management LLC now owns 544 shares of the software maker’s stock worth $90,000 after purchasing an additional 169 shares during the period. Crossmark Global Holdings Inc. lifted its stake in Paylocity by 14.6% in the third quarter. Crossmark Global Holdings Inc. now owns 3,367 shares of the software maker’s stock valued at $556,000 after buying an additional 428 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Paylocity by 6.4% in the third quarter. Covestor Ltd now owns 1,373 shares of the software maker’s stock valued at $227,000 after buying an additional 83 shares during the period. Tompkins Financial Corp bought a new stake in shares of Paylocity during the third quarter worth $82,000. Finally, Chicago Partners Investment Group LLC raised its holdings in shares of Paylocity by 3.7% during the third quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker’s stock worth $395,000 after acquiring an additional 82 shares during the period. 94.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Paylocity

In related news, Director Jeffrey T. Diehl sold 29,606 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $196.55, for a total transaction of $5,819,059.30. Following the transaction, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $2,310,445.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Rachit Lohani sold 658 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total transaction of $107,142.14. Following the completion of the sale, the senior vice president now owns 39,764 shares in the company, valued at approximately $6,474,772.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeffrey T. Diehl sold 29,606 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $196.55, for a total transaction of $5,819,059.30. Following the completion of the transaction, the director now owns 11,755 shares in the company, valued at approximately $2,310,445.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,896 shares of company stock worth $6,049,629 over the last 90 days. Company insiders own 21.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PCTY. BTIG Research lowered their target price on Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a report on Friday, August 2nd. StockNews.com lowered Paylocity from a “buy” rating to a “hold” rating in a research report on Saturday. Barclays upped their price target on Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and issued a $250.00 price objective on shares of Paylocity in a report on Monday, August 5th. Finally, Mizuho increased their target price on shares of Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Paylocity has an average rating of “Moderate Buy” and an average target price of $196.64.

Paylocity Trading Up 0.8 %

Shares of NASDAQ:PCTY opened at $212.85 on Wednesday. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $215.68. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market capitalization of $11.87 billion, a P/E ratio of 54.45, a price-to-earnings-growth ratio of 5.30 and a beta of 0.93. The company has a 50-day simple moving average of $171.00 and a 200 day simple moving average of $157.10.

About Paylocity

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.